ÁKK buys back HUF 40 bln of bonds at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back HUF 40 bln of three bonds before maturity at a reverse auction today. Combined demand for the bonds came to HUF 43.4 bln.

ÁKK accepted HUF 27.7 bln of HUF 28.7 bln of bids submitted by primary dealers for the early redemption of 2015/A bonds which mature on February 12, 2015. Average yield was 1.46%, down 1 bp from the previous reverse auction two weeks earlier.

ÁKK accepted HUF 3.1 bln of HUF 3.5 bln of bids for 2015/C bonds which mature on August 24, 2015. Average yield was 1.40%, down 15bp from the previous auction.

ÁKK accepted HUF 9.2 bln of HUF 11.2 bln of bids for the repurchase of 2016/C bonds which mature on February 12, 2016. Average yield was 1.48%, down 17 bp from the previous auction.

Including the current auction, the debt manager has repurchased HUF 549 bln bonds at 16 reverse auctions this year. Last year, it purchased back HUF 518 bln bonds early at 22 reverse auctions.

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